What is the standard error of the mean

Assignment Help Econometrics
Reference no: EM13199892

CRA CDs, Inc., wants the mean lengths of the "cuts" on a CD to be 135 seconds (2 minutes and 15 seconds). This will allow the disk jockeys to have plenty of time for commercials within each 10-minute segment. Assume the distribution of the length of the cuts follows the normal distribution with a population standard deviation of 8 seconds. Suppose we select a sample of 16 cuts from various CDs sold by CRA CDs, Inc.

(a) What can we say about the shape of the distribution of the sample mean (binomial, normal, or uniform)?

(b) What is the standard error of the mean (in seconds)?

(c) What percent of the sample means will be greater than 140 seconds?

(e) What percent of the sample means will be greater than 128 but less than 140 seconds?

Reference no: EM13199892

Questions Cloud

Identifying the correct CPT modifier : Complete the exercise by identifying the correct CPT modifier to its corresponding procedure for the following:
Trributaries provide transportation : What two rivers and their trributaries provide transportation and water for irrigation in the sahel?
Calculate the internal rate of return : The loan is to be repaid in seven equal annual installments including interest. The firm's marginal income tax rate is 39%. The equipment qualifies for MACRS 5-year property. a. Calculate the interest on loan for each year.
Define the concepts of socialization and related concepts : Define the concepts of socialization and related concepts? Describe and analyze the models of socialization?
What is the standard error of the mean : CRA CDs, Inc., wants the mean lengths of the "cuts" on a CD to be 135 seconds (2 minutes and 15 seconds). This will allow the disk jockeys to have plenty of time for commercials within each 10-minute segment.
What is the primary source of data for the application : What is the primary source of data for the application? Do alternatives exist? What is the most appropriate scale for the digital map data sets that are to be produced? What are the key considerations in the choice of Datum of the digital map data se..
Produce an entity relationship model : You are required to produce an Entity Relationship Model (diagram) for a very simple electrical utility company prior to a full implementation of a relational database for the company’s activities.
What is the standard error of the mean in the experiment : The Oil Price Information Center reports the mean price per gallon of regular gasoline is $3.79 with a population standard deviation of $0.18. Assume a random sample of 40 gasoline stations is selected.
Difference between motivation and instinct : According to instinct approaches to motivation, people and animals are born preprogrammed with sets of behaviors essential to their survival. How does this explain the difference between motivation and instinct? How does it explain the similarities?

Reviews

Write a Review

Econometrics Questions & Answers

  What is the maximum profit

(Y) Dollars per unit 3.00, 4.50, 5.00, 6.00, 8.00 (X) Units per Period 5,000 - 8,000, - WHAT IS THE MONOPOLIST'S PROFIT-MAXIMIZING OUTPUT - At the profit-maximizing output rate, what are the monopolist's average total cost and axerage revenue

  Multicollinearity impact om regression analysis

Multicollinearity refers to existence of correlation among the independent variables in a multiple regression model. Explain how multicollinearity can impact your regression analysis.

  What are the committee members payoffs

Consider a committee that consists of three people, A, B, and C, that is to examine three proposals, x, y, and z. The committee can adopt at most one of the three proposals; it also has the option of adopting none.

  Estimate for the mean systolic blood pressure

A random sample of 25 employees of a local company has been measured. A 95% confidence interval estimate for the mean systolic blood pressure for all company employees is 123 to 139. Which statements is valid.

  What is the effective interest rate

Barry, a Texas Crude Company engineer who did not take Engineering Economy while studying at Tech, recommended that Texas Crude purchase a special tool to reduce the cost of pumping oil out of the bayous of St. Martin Parish. As a result of Barry'..

  Find market demand function for donuts

Where PX is price of donut; PC is price of coffee; M1 is Ross's income; M2 is Jennifer's income. Suppose Price of coffee is $10, Ross's total income is $1000 and Jennifer's total income is $2000. A) Find market demand function for donuts. If marke..

  Calculate the overall rate of interest the couple will pay

Calculate the overall rate of interest the couple will pay using this arrangement. If you answer using a percent, please include a minimum of two significant digits in your answer. If you answer using a decimal, please include a minimum of four ..

  What is the effective interest rate made in investment

In January of 2007 Mary bought 100 stocks of Apple Inc for $55 each. this stock paid an average dividend of $4.50 per stock until the end of each year until mary sold all the stocks in December 2012 for $75.50 each. What is the effective interes..

  How much total money will she have saved

Baby boomers can save up to $22,000 per year in a 401k account. If Eileen's starting balance at age 50 is $200,000 and she saves the full amount available to her, how much money will she have saved when she is 65 years old (after 15 years of savin..

  How to use the pw method and marr

A new truck can be purchase for $84,000. Its expected useful life is six years, at wich time market value will be zero. Annual receipts less expenses will approximatetely $18,000 per year over the six-year study period. Use the PW method and MARR ..

  How long will it take them to have a total of account

Mario and Claudia deposit $100 into their joint account at the end of each month. If their account earns 7 percent/year/year/month (7 percent per year compounded quarterly), how long will it take them to have a total of $15,000 in their account

  Derive an equation for p0 as a function

A loan of P0 which accrues an interest i per period is to be paid of with a uniform gradient annuity with initial payment A and gradient G over n periods. Thus, the change in the amount of principal is governed by Pn =Pn-1(1+i)-A0 -(n-1) G (1)

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd